Derivatives

subregional

Events in Africa suggest a trend that regional and subregional organizations are the first to respond to emerging crisis situations.

After World War II, regional integration was largely stimulated by the UN Economic Commission for Latin America and the Caribbean, which saw regional or subregional integration as a way to resolve the problems of small markets.

The bank said external risks to the regional and subregional outlook include the continued weakness of the U.S. economy, developments in the technology sector, and uncertain prospects facing the Japanese economy.